Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fraud Enforcement topic
No spam. Unsubscribe anytime.
Bankers and prosecutors back new 'financial accounts fraud' offense to aid fraud investigations
Summary
The Mississippi Bankers Association and prosecutors described SB 27-93 as a new standalone offense to help law enforcement pursue complex fraud schemes and coercion-based transactions; the committee accepted a technical amendment and moved the measure forward.
Eric Bennett, director of government relations for the Mississippi Bankers Association, told the committee SB 27-93 is designed to create a standalone crime of financial-accounts fraud to help investigators address sophisticated fraud schemes, including cases where victims are coerced into processing transactions. "It essentially is a separate stand alone crime, for that covers the use the fraudulent use of a financial account," Bennett said, and he noted the proposal includes a coercion element to help in elder-abuse and romance-scam cases.
Bennett said the measure is modeled on a recent Missouri law and that the bill contains language to avoid stacking penalties where other crimes are available. The committee adopted an amendment to correct drafting language and recorded a do-pass recommendation.
